Many people want to start a company but hesitate because their current city isn’t a great fit. Luckily, you can always move to a new area, giving you a way to make your dream a reality.
If you want to relocate and launch a small business, picking the right city is essential. If you aren’t sure where to go, iSupport Local TN shares why you should consider heading to Nashville.
Cost of Living
For being a larger city, the cost of living in Nashville is pretty low. Overall, it’s 3 percent below the national average, which is good news for small business owners. With a lower cost of living, skilled professionals are more affordable when you need to hire. You’ll be able to offer a competitive salary without having to reach the same levels as you would in cities like Los Angeles, New York, or Seattle.
Housing is pretty affordable in Nashville compared to many other major cities. If you’re looking to buy, the average home value comes in near $385K, which is decent for a big city. When it’s time to look for properties, you can use online directories to find homes in your price range with the right number of bedrooms, bathrooms, and more. That way, you can get your perfect place faster, ensuring you can support your family and work life right after you arrive in the city.
Nashville is incredibly receptive to new businesses. Community leaders and residents all want new companies to thrive, often going the extra mile to support their success. Plus, there are a slew of helpful organizations that strive to get new businesses off the ground, including SCORE Mentors Greater Nashville.
Quality of Life
When you choose a new city, it shouldn’t just be a great place for your business; it also needs to offer an exceptional quality of life. Nashville – and the broader metro area – has plenty to offer. Along with an amazing culture, there’s plenty of things to do, ensuring your life there will be enjoyable.
Here is just a shortlist of some of what the Nashville metro area brings to the table:
- Grand Ole Opry
- Country Music Hall of Fame and Museum
- Ryman Auditorium
- The Nashville Parthenon
- Frist Center for the Visual Arts
- Nashville Zoo
While your small business might start as a one-person operation, having access to an educated workforce is still a must. That way, when it’s time to expand, you’ll be able to find the skilled professionals you need quickly.
The workforce in Nashville is generally well-educated, particularly since the city has so many colleges in and around the area, including Vanderbilt University, Belmont University and Lipscomb University.
Business Quick-Start Checklist
If you’re ready to start your small business, filing as an LLC is pretty straightforward. Since LLC rules vary from one state to the next, you’ll want to review the requirements in Tennessee before you get started. Once that’s handled, you’ll have to complete a few simple steps.
Here is a quick checklist that can help:
- Register with the Tennessee Department of Revenue
- Get Your EIN
- Get to Know Local Tax Laws
- Get to Know Local Employment Laws
- Secure the Right Permits and Licenses
Along the way, you’ll want to create a logo for your business before you launch. Instead of paying for costly design services, you can create a design on your own. Select a style, choose an icon, and add text. Then, you can look at a range of options and customize the ones you like, giving you the perfect image for your company.
Is Nashville Right for Your Small Business?
Ultimately, Nashville has plenty to offer. It’s a vibrant place that costs less than many other similarly-sized cities. Plus, the workforce is outstanding. So, when it comes time to find the talent you need to support your growing business, it’ll be easier to secure the professionals you need.
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